ICAI urges participation in governance review
The Institute of Chartered Accountants in Ireland (ICAI) has encouraged Irish-listed companies to participate in a review of the 2003 combined code on corporate governance.
The review is being carried out by the UK-based Financial Reporting Council (FRC).
The Irish Stock Exchange and the UK Listing authorities require listed entities to operate the "comply or explain" principles of the combined code. The purpose of the FRC review is to see how the Code has been working since its introduction in November 2003.
ICAI chief executive Pat Costello said: “ICAI welcomes this timely review by the FRC. This is a further illustration of the benefits of the non-statutory "comply or explain" code that Irish as well as UK PLCs operate under. Any implementation or teething issues can be quickly identified and fixed."
